Truist Financial Corp Cuts Position in NXP Semiconductors (NASDAQ:NXPI)

Truist Financial Corp trimmed its position in shares of NXP Semiconductors (NASDAQ:NXPI) by 5.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 154,607 shares of the semiconductor provider’s stock after selling 9,266 shares during the period. Truist Financial Corp’s holdings in NXP Semiconductors were worth $32,135,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc increased its stake in shares of NXP Semiconductors by 3.2% during the fourth quarter. CIBC Asset Management Inc now owns 74,287 shares of the semiconductor provider’s stock worth $15,441,000 after buying an additional 2,276 shares during the period. Strategic Financial Concepts LLC acquired a new position in NXP Semiconductors in the fourth quarter valued at approximately $46,000. Allworth Financial LP boosted its holdings in NXP Semiconductors by 150.8% in the fourth quarter. Allworth Financial LP now owns 3,566 shares of the semiconductor provider’s stock valued at $771,000 after purchasing an additional 2,144 shares in the last quarter. Principal Securities Inc. boosted its holdings in NXP Semiconductors by 8.7% in the fourth quarter. Principal Securities Inc. now owns 4,179 shares of the semiconductor provider’s stock valued at $869,000 after purchasing an additional 334 shares in the last quarter. Finally, Seascape Capital Management boosted its holdings in NXP Semiconductors by 2.2% in the fourth quarter. Seascape Capital Management now owns 14,752 shares of the semiconductor provider’s stock valued at $3,066,000 after purchasing an additional 319 shares in the last quarter. 90.54% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on NXPI shares. Oppenheimer lowered their price target on NXP Semiconductors from $330.00 to $300.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Citigroup raised NXP Semiconductors from a “sell” rating to a “neutral” rating and upped their price target for the company from $200.00 to $210.00 in a report on Wednesday, February 5th. Loop Capital started coverage on NXP Semiconductors in a report on Monday, November 11th. They issued a “buy” rating and a $300.00 price target for the company. StockNews.com downgraded NXP Semiconductors from a “buy” rating to a “hold” rating in a report on Wednesday, January 29th. Finally, Evercore ISI decreased their price objective on NXP Semiconductors from $370.00 to $315.00 and set an “outperform” rating for the company in a report on Wednesday, November 6th. Five research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $264.75.

NXP Semiconductors Price Performance

Shares of NASDAQ NXPI opened at $228.86 on Wednesday. The stock has a fifty day moving average price of $213.17 and a 200 day moving average price of $227.79. The company has a market cap of $58.17 billion, a PE ratio of 23.52, a P/E/G ratio of 2.64 and a beta of 1.46. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.36 and a quick ratio of 1.60. NXP Semiconductors has a 1-year low of $198.21 and a 1-year high of $296.08.

NXP Semiconductors Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Thursday, December 5th were given a $1.014 dividend. This represents a $4.06 annualized dividend and a yield of 1.77%. The ex-dividend date was Thursday, December 5th. NXP Semiconductors’s payout ratio is 41.62%.

NXP Semiconductors Company Profile

NXP Semiconductors N.V. offers various semiconductor products. The company's product portfolio includes microcontrollers; application processors, including i.MX application processors, and i.MX 8 and 9 family of applications processors; communication processors; wireless connectivity solutions, such as near field communications, ultra-wideband, Bluetooth low-energy, Zigbee, and Wi-Fi and Wi-Fi/Bluetooth integrated SoCs; analog and interface devices; radio frequency power amplifiers; and security controllers, as well as semiconductor-based environmental and inertial sensors, including pressure, inertial, magnetic, and gyroscopic sensors.